US inflation remains steady at 3.7% in September

The Bureau of Labor Statistics reported today (12 October) that core inflation, which excludes food and energy, saw its sixth consecutive month of decline, falling from 4.3% in August to 4.1% last month, its lowest figure since September 2021. Meanwhile, the cost of shelter continued to be a key driver of inflation, rising 0.6% throughout the month and accounting for over half of the increase in prices overall. After the spike in energy prices throughout August, September saw a return to lower levels of monthly energy inflation at 1.5%, compared to 5.6% in the previous month. US in...